The OCC today announced that it will reduce the rates in all fee schedules by 3% as a result of operational efficiencies gained over the past several years. The change follows a 10% reduction to all fee schedules in 2020 and a 10% reduction to the general assessment fee schedule in 2019.
The reduced assessments go into effect Jan. 1, 2021, and will be reflected in assessments paid on March 31, 2021, and Sept. 30, 2021.
The OCC said the new assessment level provides sufficient resources for the agency to “invest in initiatives that improve the agency’s ability to ensure the safety, soundness, and fairness of the federal banking system.”
ADVERTISEMENT
